How to (Almost) Turn a Profit in Spec Remodeling

"Lesson learned: Choose a house that needs a facelift, not major surgery"

JLC ??SEPTEMBER 1992
How to (Almost) Turn a Profit in
Spec Remodeling Spec
Remodeling
by Richard Cooley
The spec rehab of this 1,700-square-foot cape turned out to be a break-even proposition.
ike many contractors, I always
keep a finger in real-estate
speculation. Who knows better
than a contractor how to enhance a
property and thus increase its value? So
last year, when I saw that work was going
to be slow for the winter, I looked into
investing in another property.
I've built new spec homes before, but
since vacant lots weren't a good buy, I
decided that wasn't the best plan of
action. I've also invested in a multifamily
building and rented out the apartments,
but I